Turkey’s March industrial production rises 4.7% y/y

By bne IntelliNews May 8, 2015

On a calendar-adjusted basis, Turkey’s industrial production rose 4.7% y/y in March (market forecast: 0.9% y/y), after increasing 0.9% y/y in the previous month, data of the statistics office TUIK showed on May 8.

Durable consumer goods production was up 1.6% y/y, energy output rose 1.5% y/y, capital goods production increased 3.2% and manufacturing production showed a 2.5% y/y rise in the month.

Industrial production increased 2.2% m/m in March, following a 1.8% m/m rise recorded in February on a calendar and seasonally adjusted basis.

On an unadjusted basis, Turkey’s industrial production increased a robust 4.8% y/y in the month (market forecast: 2% y/y) after rising 0.9% y/y in February and contracting 2.2% y/y in January.

The central bank said in April that Q1 data pointed to a relatively weak outlook for economic activity. This slowdown was largely due to the weak external demand, volatility in financial markets and adverse weather conditions, said the bank, adding that economic activity is expected to grow gradually and moderately from the second quarter onwards, downside risks remain important.

Industrial Production by main Industrial Groups (March)    
(%) Calendar Adjusted Seasonally & Calendar Adjusted
  (y/y) (m/m)
Total Industry 4.7 2.2
Intermediate Goods -0.9 1.2
Durable Consumer Goods 3.6 1.6
Non-durable Consumer Goods 7.2 3.6
Energy 2.7 1.5
Capital Goods 15.9 3.2
Source: tuik

Related Articles

Kazakh central bank approves €1bn assistance package for four banks

Kazakhstan’s central bank announced on October 18 that it has approved an assistance package worth KZT410bn (€1.04bn) for ATF Bank, Eurasian Bank, Tsesna Bank and Bank ... more

Hungarian retail investors continue to pile into domestic government bonds

The stock of government bonds held by households rose by HUF154bn (€500mn) September to an all-time high of HUF6.5 trillion, Hungary’s Government Debt Management Agency (AKK) said on October 16. ... more

Ukrainian central bank bans Russian banknotes, coins depicting occupied territories

The National Bank of Ukraine (NBU) has forbidden local banks and the country's financial institutions to perform any cash transactions using the new banknotes and coins issued by the Russian central ... more